General Atlantic Takes Minority Stake in $50B Partners Capital

General Atlantic has acquired a minority share in Partners Capital Investment Group, a $50 billion global outsourced investment office (OCIO) that serves institutions such as family offices, foundations, and endowments.

The private equity firm, which oversees $83 billion in assets, is purchasing the interest owned by Partners Capital’s “long-term” external shareholders and some of its founding partners via its growth equity funds.

Specific financial terms of the deal were not disclosed.

As part of the deal, Partners Capital’s current leadership team can increase their ownership of the firm. The investing operations will run independently of General Atlantic.

“We believe the Outsourced Investment Office market is one of the most attractive segments in asset management. Within this, Partners Capital stands out for its premier client service, geographic breadth, track record of investment performance and scalable model,” said Gabriel Caillaux, co-president, managing director, and head of climate and EMEA, and Caroline Woodworth, managing director, at General Atlantic.

Founded in 2001, Partners Capital employs more than 350 people in Boston, New York, London, San Francisco, Paris, Singapore and Hong Kong.